Investing.com – The dollar fell against a basket of major currencies on Tuesday pressured by a surge in the euro following data pointing to underlying strength in the Eurozone economy.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell by 0.49% to 93.09.
It was a quiet day for U.S. top tier economic data investor demand for safe-haven currencies like the yen and Swiss franc remained elevated amid ongoing geopolitical uncertainty on the Korean Peninsula.
fell 0.43% to Y112.19 while added 0.48% to 0.9750.
Also weighing on the greenback was a rally in the euro after bullish trade data raised expectations of European Central bank monetary policy tightening amid comments from an ECB official on Monday.
Germany, the Eurozone’s largest economy, revealed better-than-expected trade data as its trade balance expanded to 21.6 billion, beating economist expectations of 20 billion.
Sabine Lautenschlaeger, a member of the European Central Bank executive board, urged the ECB to roll back asset purchases in 2018.
rose to 0.56% to $1.1806 while eur/gbp added 0.04% to £0.8937.
Sterling, meanwhile, added to recent gains against the greenback rising 0.50% to $1.3209 on the back of manufacturing and industrial data that topped expectations.
Total production output in the was 1.6% higher in August than a year before, against expectations of a 0.8% rise, while rose 2.8%, topping forecasts of a 1.9% increase.
fell 0.41% to C$1.2498.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Latest posts by investing.com (see all)
- Forex – Aussie Dips As Housing Data, NAB Sentiment Views Disappoint - December 12, 2017
- Forex – PBOC Sets Yuan Parity At 6.6162 Dollar - December 12, 2017
- Dollar firm with focus on Fed meeting; kiwi edges higher - December 12, 2017